Mar 26, 2026
Jacob Kohn Secures $300M Refinance for Downtown Brooklyn Tower at 102 Fleet Place
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- Jay Group closes $300 million refinance for 102 Fleet Place
- Loan provided by Affinius Capital to complete construction and lease up
- 495-unit luxury tower rising in Downtown Brooklyn
What the Refinance Means for Project Completion
The $300 million refinancing marks a major milestone for Jay Group’s development at 102 Fleet Place. The capital injection from Affinius Capital will allow the project to move through final construction and into stabilization. Refinancing at this stage typically signals lender confidence in both the asset and leasing prospects, especially in a competitive submarket like Downtown Brooklyn.
What the Project Means for Downtown Brooklyn Supply
The 30-story tower will deliver 495 residential units along with ground-floor retail space. Its scale positions it as a significant addition to Downtown Brooklyn’s growing multifamily inventory. Located near major demand drivers such as Barclays Center and Fulton Mall, the project benefits from strong transit access and established neighborhood activity. The development is part of a larger multi-building portfolio assembled by Jay Group, further reinforcing the firm’s long-term presence in the area.
What Amenities Mean for Market Positioning
The project includes a full suite of high-end amenities, including a rooftop pool, gym, coworking space, and recreational features such as a climbing wall and pickleball courts. These offerings align with the evolving expectations of urban renters, particularly in luxury segments where lifestyle-driven features are critical to lease-up success.
What This Means for Investors and the Market
The refinancing highlights continued lender appetite for large-scale multifamily projects in core Brooklyn locations. It also signals confidence in rent growth and absorption in Downtown Brooklyn. For investors, the deal reinforces a key trend: well-located, amenity-rich rental developments continue to attract significant capital even in later stages of construction.